Anatomy of the Bear lays out the ultimate blueprint to help readers spot the bottom of a bear market. Financial market history is a guide to understanding the future. And using 70,000 articles from the Wall Street Journal, this book examines the four occasions when U.S. equities were particularly cheap from either side of the market bottom. By looking at how markets really did work in these bear-market bottoms, rather than theorizing how they should work, Anatomy of the Bear offers investors a financial field guide to making the best provisions for the future. With this book, readers will begin to understand the features which indicate that a great buying opportunity is emerging.
Anatomy of the Bear is described as "a cult classic in the investment community".
The new edition includes a brand new preface from the author and a foreword by Merryn Somerset Webb.
Table of Contents
Foreword by Merryn Somerset Webb
Preface to the New Edition
Introduction
Part I August 1921
The road to August 1921
The course of the Dow - 1896-1921
Living with the Fed - A whole new ball game (I)
Structure of the market in 1921
The stock market in 1921
The bond market in 1921
At the bottom with the bear - Summer 1921
Good news and the bear
Price stability & the bear
Liquidity and the bear
The bulls and the bear
Bonds and the bear
Part II July 1932
The road to July 1932
The course of the Dow - 1921-29
Living with the Fed - A whole new ball game (II)
The course of the Dow - 1929-32
Structure of the market in 1932
The stock market in 1932
The bond market in 1932
At the bottom with the bear - Summer 1932
Good news and the bear
Price stability and the bear
Liquidity and the bear
The bulls and the bear
Bonds and the bear
Roosevelt and the bear
Part III June 1949
The road to June 1949
The course of the Dow - 1932-37
The course of the Dow - 1937-42
The course of the Dow - 1942-46
The course of the Dow - 1946-49
Structure of the market in 1949
The stock market in 1949
The bond market in 1949
At the bottom with the bear - Summer 1949
Good news and the bear
Price stability and the bear
Liquidity and the bear
The bulls and the bear
Bonds and the bear
Part IV August 1982
The road to August 1982
The course of the Dow - 1949-68
The course of the Dow - 1968-82
Structure of the market in 1982
The stock market in 1982
The bond market in 1982
At the bottom with the bear - Summer 1982
Good news and the bear
Price stability and the bear
Liquidity and the bear
The bulls and the bears
Bonds and the bear
Conclusions
- Strategic
- Tactical
- Then and now
Epilogue: Russell Napier, 2007
Bibliography
Table of Figures
Acknowledgements